I applied for a housing loan from the Agricultural Bank of China and now move to Hong Kong. Will the housing loan be recovered?

The following situations may occur if the loan is not repaid:

1. If there is no repayment at one time, the bank will notify and remind you to repay on time by phone or text message, and at the same time Penalty interest will occur;

2. If the loan is not repaid three times in a row, the bank will collect the loan, and the borrower will also be charged penalty interest;

3. If the number of overdue repayments reaches six times and above, the bank will use legal means to safeguard its own rights and interests, and the property will be frozen during this period;

4. If the negotiation between the bank and the borrower fails, the bank will auction the mortgaged property through legal procedures .